Nasdaq-100 futures rose about 0.9%, buoyed by a more than 16% jump in Palantir Technologies in premarket trading after the data analytics company reported stronger-than-expected second-quarter results. Other semiconductor and AI-linked stocks also advanced, with Micron Technology gaining around 3% and Marvell Technology rising about 7%.
S&P 500 futures edged up 0.2%, while Dow Jones Industrial Average futures added about 0.7%, supported by a 6% gain in Caterpillar after the industrial equipment maker posted better-than-expected quarterly earnings.
The gains followed a strong session on Monday, when the Dow closed at a record high as easing oil prices lifted investor sentiment. Technology stocks remained in focus after Amazon’s market capitalisation crossed the $3 trillion mark, underscoring continued optimism around artificial intelligence despite elevated capital spending.
Investors are now awaiting another busy day of earnings, with Advanced Micro Devices (AMD), McDonald’s, Spotify and Caterpillar among companies reporting. Markets are also focused on SpaceX’s first quarterly earnings report since its June public listing, after the stock came under pressure following its market debut.
Meanwhile, geopolitical developments remained on investors’ radar. Markets continued to digest mixed signals over US-Iran negotiations after President Donald Trump said he had called off a planned large-scale attack on Iran to allow diplomacy to resume.
Tehran denied that direct talks were underway, prompting Trump to accuse Iran of being “unbelievably duplicitous” and warn that it faced a final opportunity to reach an agreement. Oil prices traded higher as investors weighed the uncertain outlook.Also Read: US has used ‘virtually all’ of its long-range precision missiles during Iran war: Report